I was taken aback when Mr. Fancy Schmancy shouted "A pox on both your houses!" as I was unaware that he knew of my summer home. Founding member of the Hogtown Irregulars, and former indentured short order cook still on the run. Professional Zamboni racer and bronze medal recipient in the 2010 All-Miami Outdoor Zamboni Championships.

Tuesday, July 15, 2008

Cops to IndyMac customers: Remain calm or face arrest

"Police ordered angry customers lined up outside an IndyMac Bank branch to remain calm or face arrest Tuesday as they tried to pull their money on the second day of the failed institution's federal takeover.

At least three police squad cars showed up early Tuesday as tensions rose outside the San Fernando Valley branch of Pasadena-based IndyMac.

Federal regulators seized Pasadena-based IndyMac on Friday and reopened the bank Monday under the control of the Federal Deposit Insurance Corporation. Deposits to $100,000 are fully insured by the FDIC.

Worried customers with deposits in excess of insured limits flooded IndyMac Bank branches on Monday, demanding to withdraw as much money as they could or get answers about the fate of their funds.

When it was clear some wouldn't get in before closing, FDIC employees apparently took down names and told them to return Tuesday.

Other customers began lining up at 1:30 a.m. Tuesday, and by dawn, tensions escalated because people on the list were getting priority.

By 8 a.m., about 50 people on the list waited in one line and many more waited in another.

Five people were allowed in at a time.

Customers became infuriated, and police told them they could be arrested if they didn't remain calm."

And there you have it. Our sworn defenders becoming more and more convinced that they are in charge. Even an optimist would be forced to concede that there's really only one way this can end, and that it won't be pretty. Never thought I'd say this, but it no longer is if, but when.